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Thursday, 10 May 2018
Page: 2841

Senator FIFIELD (VictoriaMinister for Communications, Minister for the Arts and Deputy Leader of the Government in the Senate) (10:50): The purpose of the innovation fund is to assist eligible organisations to make changes to their business processes to ensure they're in a better position to compete in the changing environment. Examples might include commissioning feasibility studies or planning work; commissioning IT builds or installations; acquiring intellectual property or installing new technology, plans and equipment; acquiring assets that are directly and solely employed to achieve the project outcomes, which might take the form of acquisition or lease costs; training staff that directly support the achievement of project outcomes; and defraying the costs of financial auditing of project expenditure. They're some of the things that are eligible.